Gold is trading at about $3375 (about Rs 97000) as investors keep a careful eye on the Middle East conflict that is getting worse after the US became involved in Israeli strikes on Iran.
Weekly Blogs
Precious Metals chasing record highs on escalating geopolitical risks
Geopolitical tensions in the Middle East, particularly those involving the US, Iran, and Israel, keep the demand for safe-haven assets high, keeping precious metals in a bullish momentum.
Silver trades above the record high mark of Rs 1 lakh per kg
Silver has shot up by about 9% over the week, while gold is stabilising in a range. A dovish view from the Federal Reserve and lacklustre US economic data continued to fuel demand for safe-haven assets, pushing silver prices to their highest levels since February 2012. Moreover, technical buying above $35 supported the rally.
Precious Metals struggle to find direction
If the US announces new agreements with its partners, a positive shift in sentiment could keep precious metals under selling pressure. Conversely, if Trump takes an aggressive stance and extends his tariff threats to the EU and other countries, the precious metals could benefit from safe-haven flows.
Focus shifts back to tariff war and geopolitics
Gold saw a strong increase last week, jumping about 4% as the dollar fell following U.S. President Donald Trump’s warning to put 50% tariffs on European Union imports on July 9.
Gold slumps as safe-haven demand wanes
Gold saw a steep weekly loss of more than 4% last week, its most since November 2024, as it dropped toward $3180. Since its April peak of $3500, the precious metal has lost more than $300 as technical selling quickens and safe-haven demand wanes.
Gold slips below $3300 on de-escalation of tariff war
Gold prices have retreated as there are signs of de-escalation of the tariff war between the US and China. Also, the fact that gains have now paused twice in the mid-$3400 (~Rs 97000) range suggests that the rally may be nearing its short-term exhaustion.
Is the worst of the tariff war behind us?
The bulls dominated the first few weeks of April, while the bears, who tested the $3200 mark in gold, dominated the final two weeks. Gold prices have corrected almost 8% from their high as the worst of the tariff war is behind us.
Gold retraces to $3300 – Will the rally continue, or correction coming
The gold market cooled off to $3300 (~Rs 95000) after reaching $3500 (~Rs 99350) last week as Donald Trump signaled a potential softening of his aggressive trade stance toward China and indicated that tariff negotiations were underway.
Gold touches Rs 1 lakh/10 gm mark
Gold prices reached a record high of $3397 (~Rs 96747) on exchanges and nearly Rs 1 lakh in the spot market after adding 3% GST today. Concerns over global economic growth as a result of the escalating Sino-U.S. trade war are driving the rise, with a weaker dollar adding to the momentum.
Gold rockets to record high again amid tariff war and USD sinks to 35-month low
COMEX Gold’s active month contract closed 7% higher at $3254, marking the highest weekly percentage increase since March 27, 2020. Prices are up $270, or 9%, during the last four sessions, and year-to-date they are up $593, or 22.5%.
Gold/10 gm price and Silver/kg price trading at par
Following Trump’s Liberation Day on April 2, the price of gold fell from all-time highs as hedge funds saw the largest margin calls since COVID-19. The gold-to-silver ratio has risen above 100 due to this sell-off, and the prices of gold/10 grams and silver/kg are currently trading at par.